As projected on Aug 9 the EURUSD just tipped the 1.11171 and a little bit below. Next low will very likely be today 1.11007 and after that I expect a pullback and a possible new low around 1.10696. As mentioned on Aug 9 keep an eye on the CHF and CNH - the movements there can give a better birds eye view on the turbulent situation. After a second low I see tendecies between 1.1250 and 1.1500.
Comment
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We are getting close to the second limit of 1,10696. As expected after the last pullback the volatility slowed down and even the last short drop was very weak. I exepect that this will stay like that for today and maybe even Monday. Between 1,10696 and 1,10396 I will open a long-pos. In the unlikely case that this second target will not hit today I would not trade since there is still a strong potential for a complex side movment. The likelyhood that Pn will drop below 1,10396 immediately is rather low in my opinion.